SOUTH COVE NURSING FACILITIES FOUNDATION INC (EIN 046406242) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1977

Legal Domicile

Principal Officer

WILLIAM GRAVES

Phone

6174230590

Tax Period

2023-01-01 to 2023-12-31

SOUTH COVE NURSING FACILITIES FOUNDATION INC, founded in 1977, is a small nonprofit in the Health Care sector that reported $355K in total revenue in fiscal year 2023. Revenue fell 65% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $225K, a strong 63% operating margin.

Mission

TO PROMOTE AND SUPPORT PROGRAMS FOR THE ASIAN ELDERLY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $255,376

Program Service Revenue $0

Investment Income $99,192

Other Revenue $0

TOTAL REVENUE $354,568

Expense Breakdown

Grants Paid $11,334

Salaries & Benefits $0

Fundraising Expenses $26,305

Program Expenses $14,583

Other Expenses $118,211

TOTAL EXPENSES $129,545

Year-over-Year Comparison

	2023	2022	Change
Revenue	$354,568	$1,017,488	-0.7%
Expenses	$129,545	$115,571	+0.1%
Net Income	$225,023	$901,917	-0.8%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$472,154

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID T TING	DIRECTOR	1.00	Director	$0	$0	$0
HEATHER O'SULLIVAN	DIRECTOR	1.00	Director	$0	$0	$0
LISA MUI	DIRECTOR	1.00	Director	$0	$0	$0
EDWARD CHENG ESQ	DIRECTOR	1.00	Director	$0	$0	$0
SUSAN LUO CFA	DIRECTOR	1.00	Director	$0	$0	$0
HON HOI YEE	DIRECTOR	1.00	Director	$0	$0	$0
HELEN CHIN SCHLICHTE	DIRECTOR	1.00	Director	$0	$0	$0
JIM HSU	DIRECTOR	1.00	Director	$0	$0	$0
LEONARD LAI MD	DIRECTOR	1.00	Director	$0	$0	$0
ALICE L ROSE RN	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS CHIN	DIRECTOR	1.00	Director	$0	$0	$0
MARIANNE BOWLER HONORABLE	DIRECTOR	1.00	Director	$0	$0	$0
HEMMIE CHANG	CLERK	1.00	Officer Director	$0	$0	$0
CINDY LAW	TREASURER	1.00	Officer Director	$0	$0	$0
MAY CHIN	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
JASON QU	CHAIRMAN OF THE BOARD	1.00	Officer Director	$0	$0	$0
RICHARD LUI	DIRECTOR	1.00	Director	$0	$0	$0
ERIC SCHLICHTE	DIRECTOR	1.00	Director	$0	$0	$0
STANLEY ELKERTON	DIRECTOR	1.00	Director	$0	$0	$0
DAVID CHIU MD	DIRECTOR	1.00	Director	$0	$0	$0
OLIVIA WONG	DIRECTOR	1.00	Director	$0	$0	$0
PHILIP CHENG AG	DIRECTOR	1.00	Director	$0	$0	$0
WILLIAM GRAVES	PRESIDENT & CEO	1.00	Officer	$0	$11,974	$302,451
SCOTT HANSON	DIRECTOR OF FINANCE	1.00	Officer	$0	$4,286	$169,703

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$354,568	$129,545	$17,931,872	$225,023
2022	$1,017,488	$115,571	$15,783,171	$901,917
2021	$1,487,301	$109,698	$18,268,139	$1,377,603
2020	$579,878	$76,982	$16,349,330	$502,896
2019	$532,940	$115,988	$14,763,256	$416,952
2018	$925,489	$96,911	$13,681,452	$828,578

SOUTH COVE NURSING FACILITIES FOUNDATION INC